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Many spouses confused about property division during divorce

Dividing property is commonly one of the most acrimonious aspects of a marital breakup. Part of the problem is that many spouses who are going through divorce have misconceptions about what property distribution means for them according to state law. Here is a look at a couple of these misconceptions in equitable distribution states, such as Florida.

In an equitable distribution state, all marital property is split in a fair, or equitable, manner. That means that property division might not necessarily be a perfectly even split. This is opposite of what takes place in a community property state, where assets are divided 50/50 in all situations.

Some individuals going through divorce mistakenly believe that the spouse who works more may receive a bigger share of the marital estate during the divorce proceeding. However, this is not necessarily true. If one of the spouses decided to stay home to take care of the children, the court will ensure that this party receives a fair split of the marital assets. In addition, just because a particular asset happens to be titled in one person's name does not mean he or she will automatically receive it as part of the divorce. This asset may end up being split if was obtained during the couple's marriage using marital funds.

Divorce is a complicated process due to its many moving parts. Unfortunately, making a wrong decision due to a lack of understanding of Florida divorce law can have an adverse impact on one's finances long term. Fortunately, an attorney can provide the guidance needed to make informed decisions and thus to protect one's best interests financially in the Sunshine State.

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